SafeMoon stands from "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price flying upwards "as high as the Moon".
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The bears tried to pull Bitcoin below the breakout level at $67,000 on Nov. 9 but they could not sustain the lower levels. The modest pullback indicates that bulls are buying on every minor dip.
Many lesser-used cryptocurrencies can only be exchanged through private, peer-to-peer transfers, meaning they’re not very liquid and are hard to value relative to other currencies — both crypto- and fiat.
It is the latest cryptocurrency to have seen a spike in interest since the turn of the year, following on from the success of Dogecoin, Bitcoin and Ripple XRP in recent weeks.
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Like all cryptocurrencies, the majors are digital assets that secure and verify transactions using computer science and complex mathematics, known as cryptography. Unlike traditional (‘fiat’) currencies, they are not currently issued or backed by a central authority such as a government. Instead, they run across a network of computers and are underpinned by blockchain technology – a permanent record of transactions that cannot be altered without the consensus of the network.
“Every single day, the concept that it could be worth something, it could be a store of value is being continually approved by more large, powerful entities,” Johnson says, pointing to established financial institutions holding digital currencies and large corporations adding them to their corporate balance sheets. “The idea that it’s actually worth something is continuing to grow as adoption and acceptance continues to grow as well.”
Data Availability: All data are available from figshare: https://figshare.com/articles/Wavelet_coherence_cryptocurrency_online_indicator_data_set/5765352.
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At the time of writing this review, Binance.US has supported seven cryptocurrencies, including:
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Whilst demonstrating a respectable return, especially for a meme token, SafeMoon has the potential to spike again in the future. With expert, or lucky, timing you may be able to catch another huge market spike and benefit from the volatility of the cryptocurrency market.
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Mooncraft is a Minecraft server that we use as a test bed for integration with Safemoon and other technologies. It features several game modes, active development, and new proprietary technology.